Coinbase Global (NASDAQ:COIN) CAO Jennifer Jones Sells 2,062 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,062 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Performance

Shares of COIN stock traded down $5.38 during trading on Wednesday, reaching $181.78. The company had a trading volume of 6,209,237 shares, compared to its average volume of 10,349,180. Coinbase Global, Inc. has a one year low of $139.11 and a one year high of $402.16. The company has a market capitalization of $47.96 billion, a PE ratio of -47.34 and a beta of 3.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. The firm’s 50 day simple moving average is $159.23 and its two-hundred day simple moving average is $174.17.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $5.14 earnings per share. Coinbase Global’s quarterly revenue was down 18.5% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post -0.06 earnings per share for the current year.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Tokenized-stock expansion: Coinbase launched tokenized U.S. equities on its Base blockchain for eligible non-U.S. users. The products are designed for 24/7 trading and use across decentralized finance, potentially creating new trading, custody and infrastructure revenue streams. Coinbase Debuts Tokenized Stocks On Base Network
• Positive Sentiment: Chainlink integration: Chainlink will provide pricing data for the tokenized stocks, allowing them to potentially serve as collateral in lending markets, decentralized exchanges and structured products. Coinbase Taps Chainlink to Power Tokenized Stocks on Base
• Positive Sentiment: New lending product: Coinbase and Better introduced a token-backed conforming mortgage for Coinbase One members, enabling eligible crypto holders to access home financing without immediately selling their digital assets. The offering could expand Coinbase’s financial-services ecosystem, although adoption and credit risks remain unproven. Coinbase and Better Unveil a Token-Backed Mortgage
• Positive Sentiment: Supportive analyst action: Goldman Sachs reiterated a Buy rating and raised its price target to $196, providing a modest positive signal for investor sentiment. Goldman Sachs Reiterates Buy Ratings
• Neutral Sentiment: Argus reaffirmed its Hold rating, indicating that analysts remain divided on COIN’s valuation and earnings outlook. Benzinga analyst rating report
• Negative Sentiment: Crypto-market pressure: Bitcoin’s retreat and profit-taking after its recent rally weakened sentiment across exchange and mining stocks. With Coinbase’s results tied closely to crypto trading activity, a sustained pullback could reduce volumes and revenue. Coinbase Slips as Crypto Pullback Pressures Exchange Stocks
• Negative Sentiment: Reports also show continued insider selling, with several Coinbase executives selling shares and no reported open-market purchases over the referenced six-month period, potentially adding to short-term investor caution.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research reports. Citigroup restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, July 31st. Needham & Company LLC dropped their target price on Coinbase Global from $220.00 to $177.00 and set a “buy” rating for the company in a report on Friday, July 31st. The Goldman Sachs Group raised their target price on Coinbase Global from $173.00 to $196.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer decreased their price target on Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $215.90.

Institutional Trading of Coinbase Global

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Coinbase Global by 14,352.9% in the 2nd quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange’s stock worth $6,853,867,000 after acquiring an additional 46,558,893 shares in the last quarter. Norges Bank acquired a new stake in Coinbase Global during the 4th quarter valued at $656,744,000. Capital World Investors increased its holdings in Coinbase Global by 847.2% during the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after purchasing an additional 1,374,318 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Coinbase Global in the 2nd quarter valued at $142,995,000. Finally, Southpoint Capital Advisors LP bought a new position in Coinbase Global in the 1st quarter valued at $104,766,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Company Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.